Use This Guide to Take the Right Steps for Your Practice’s Finances

BCBS_ERS

As the COVID-19 curve rises, your practice revenue and cash flow might be trending downward.

To help you take decisive actions to shore up practice operations for the weeks to come, the Texas Medical Association’s practice viability experts have created a step-by-step guide for you to use.

From evaluating staffing levels and needs and talking to your CPA about available tax credits, to focusing on working old accounts receivable and rescheduling upcoming patient appointments, the guide provides you with the advice your practice might need.

In addition, the TMA COVID-19 Task Force has created a Practice Viability Frequently Asked Questions (FAQ) that gives information on topics such as whether you should apply for a loan, and what to do if a physician or staff member becomes ill. It also explains the new paid sick leave provisions. The FAQ also can be found on TMA’s Practice Viability webpage.

Remember, you can find the latest news, resources, and government guidance on the coronavirus outbreak by visiting TMA’s COVID-19 Resource Center regularly.

Last Updated On

April 02, 2020

Related Content

Coronavirus